Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the FIN-FSA's decision, including banking and payment rails.
Get an investment license in Finland.
A Nordic seat with the EU passport: the FIN-FSA authorises a sijoituspalveluyritys under the Investment Services Act 747/2012 on the IFR art. 9 tiers of €75,000, €150,000 and €750,000, with the MiFID II six-month clock and a compensation fund that pays 90% up to €20,000. 171 investment firms and 146 fund managers sat on the register at 31 December 2025. Corporate tax is 20%, proposed to fall to 18% from 2027. Our head office in Tallinn is two hours from Helsinki by ferry.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Finland in brief
A Nordic seat, the EU passport and a ferry to our head office.
Finland licenses investment firms under the Sijoituspalvelulaki, the Investment Services Act 747/2012, which carried MiFID II into Finnish law in 2017-2018 and the IFD in 2021. The authorisation from Finanssivalvonta - the FIN-FSA, which works in connection with the Bank of Finland - covers the MiFID II Annex I services: reception and transmission, execution, dealing on own account, portfolio management, advice, underwriting and placing, MTF and OTF operation, with custody as an ancillary service. Capital follows IFR art. 9. €75,000 for a firm that never holds client money, €150,000 as the general tier, €750,000 for dealing and firm-commitment underwriting; ch. 6 s. 1 of the Act applies those tiers. Fund managers are authorised separately - an AIFM under Act 162/2014, registration only below the AIFMD thresholds, or a rahastoyhtiö under the Act on Common Funds 213/2019.
The decision clock is the MiFID II one: six months from a complete application under art. 7(3) of Directive 2014/65/EU. The Finnish section transposing it sits in chapter 3 of the Act, and the FIN-FSA publishes no processing statistics. Its register does show the market. 171 investment firms at 31 December 2025, down from 177, and 146 fund management companies and AIFMs, up from 142. Client protection runs through the Sijoittajien korvausrahasto, which pays 90% of a non-professional client's receivables up to €20,000 - the maximum is reached at €22,222 - from a fund with a minimum capital of €12 million. Tax is a 20% yhteisövero, and the Government proposed on 17 September 2026 to cut it to 18% from tax year 2027. Our nearest real office is the Tallinn head office, two hours from Helsinki by ferry; the file is run from there and from Helsinki.
A Nordic seat with the EU passport: the FIN-FSA authorises a sijoituspalveluyritys under the Investment Services Act 747/2012 - IFR capital €75k/€150k/€750k, the MiFID II six-month clock, compensation of 90% up to €20,000, 171 firms on the register at end-2025, the 30-state passport.
20% corporate tax today, 18% proposed from tax year 2027. Processing fees per the FIN-FSA schedule, quoted before filing. Built from Helsinki and our Tallinn head office, two hours away by ferry.
The two builds
The sijoituspalveluyritys - or the fund manager under Act 162/2014.
Two FIN-FSA authorisations under two acts: the investment firm under the Investment Services Act 747/2012 on the €75,000-€750,000 IFR tiers, and the AIFM under Act 162/2014 - authorisation, or registration only below the AIFMD thresholds. We fix the act before the file.
The Act 747/2012 investment firm - or the €125k fund manager.
01 - SIJOITUSPALVELUYRITYS
The investment firm under Act 747/2012
The sijoituspalveluyrityksen toimilupa for the MiFID II Annex I services - reception and transmission, execution, dealing on own account, portfolio management, advice, underwriting and placing, MTF and OTF operation, custody ancillary - on the IFR art. 9 capital of €75,000 without client money, €150,000 with it, €750,000 for dealing, applied by ch. 6 s. 1 of the Act.
The sijoituspalveluyrityksen toimilupa for the MiFID II Annex I services - reception and transmission, execution, dealing on own account, portfolio management, advice, underwriting and placing, MTF and OTF operation, custody ancillary - on the IFR art. 9 capital of €75,000 without client money, €150,000 with it, €750,000 for dealing, applied by ch. 6 s. 1 of the Act.
- ✓MiFID II Annex I services · custody ancillary
- ✓€75,000 - no client money or instruments (IFR art. 9)
- ✓€150,000 - general tier
- ✓€750,000 - dealing and firm-commitment underwriting
- ✓6 months from a complete file (MiFID II art. 7(3))
- ✓Sijoittajien korvausrahasto - 90% up to €20,000
02 - AIFM · RAHASTOYHTIÖ
€125,000 initial capitalThe fund manager
Fund management is its own authorisation: an AIFM under the Act on Alternative Investment Fund Managers 162/2014 - registration only below the AIFMD thresholds - or a rahastoyhtiö under the Act on Common Funds 213/2019, on the AIFMD art. 9 and UCITS art. 7 capital of €125,000, €300,000 for an internally managed fund. The applying sections of the Finnish acts are confirmed before filing.
AIFM under Act 162/2014 or rahastoyhtiö under Act 213/2019 at €125,000 - registration only below the AIFMD thresholds.
- ✓AIFM authorisation under Act 162/2014
- ✓Registration only below the AIFMD thresholds
- ✓Rahastoyhtiö under Act 213/2019
- ✓€125,000 external · €300,000 internal (AIFMD art. 9)
- ✓146 fund managers and AIFMs on the register
- ✓Supervision fees €4,490 thousand as a class in 2025
Costs and timelines are confirmed for your case before any work begins. The FIN-FSA's processing fee for the authorisation comes from its schedule, the supervision fee under Act 1209/2023 is basic plus proportional, and the compensation-fund contribution is itemised in your quote.
Why Finland
The register, the fund and the rate heading to 18%.
Finland sells a Nordic seat with the EU passport, a compensation fund with €12 million behind it and a tax rate the Government wants at 18%.
✓
171 firms on the register
The FIN-FSA counted 171 investment firms and 146 fund management companies and AIFMs at 31 December 2025 - a supervisor that reads this file every year, and a register where yours is not the first.Yours is not the first.
✓
A rate heading to 18%
20% yhteisövero today; the Government's proposal of 17 September 2026 cuts it to 18% from tax year 2027 and stretches loss carry-forward from 10 to 25 years.Proposed for tax year 2027.
✓
€12 million behind the €20,000
The Sijoittajien korvausrahasto pays 90% of a non-professional client's receivables up to €20,000, from a fund whose minimum capital is €12 million - a scheme with money in it.A fund with money in it.
✓
One gate for firm and fund
The FIN-FSA authorises the investment firm, the rahastoyhtiö and the AIFM, registers tied agents and forwards the passport notifications - and granted five crypto-asset service provider licences in 2025 besides.Firm, fund, tied agents.
✓
The passport from a Nordic seat
MiFID II arts 34-35: one month for services, three for a branch, into 30 EEA states - and the FIN-FSA publishes the list of service providers that have notified.30 states, arts 34-35.
✓
A small market, shrinking slightly
5,655,296 people at the end of July 2026, and the investment-firm register fell from 177 to 171 in a year. Finland is a home market for firms that sell to Finns and a passport seat for the rest - fix the client map before the file.177 to 171 in a year.
How it compares
How Finland differs from other routes.
The honest comparison: a Nordic EU seat with modest tax - against a bigger Swedish market with a printed fee, and Estonia and Denmark next door.
Finland vs other jurisdictions
| Feature |  Finland | Other jurisdictions |
|---|---|---|
| Regime | Investment Services Act 747/2012 - FIN-FSA | Lag 2007:528 Sweden · Lov nr. 1155/2021 Denmark |
| Capital | IFR art. 9 €75k / €150k / €750k, applied by ch. 6 s. 1 | Same tiers · Sweden adds a €5m CRR tier (3 kap. 6 §) |
| Passport | 30 EEA states · tied agents registered by the FIN-FSA | Same passport from Stockholm or Copenhagen |
| Timeline | 6 months from a complete file (MiFID II art. 7(3)) · no stats | Denmark 6 months, 12 absolute (§ 22) · Sweden 6 months once the fee is paid |
Regime
FinlandInvestment Services Act 747/2012 - FIN-FSA
Other jurisdictionsLag 2007:528 Sweden · Lov nr. 1155/2021 Denmark
Capital
FinlandIFR art. 9 €75k / €150k / €750k, applied by ch. 6 s. 1
Other jurisdictionsSame tiers · Sweden adds a €5m CRR tier (3 kap. 6 §)
Passport
Finland30 EEA states · tied agents registered by the FIN-FSA
Other jurisdictionsSame passport from Stockholm or Copenhagen
Timeline
Finland6 months from a complete file (MiFID II art. 7(3)) · no stats
Other jurisdictionsDenmark 6 months, 12 absolute (§ 22) · Sweden 6 months once the fee is paid
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Finland | Sijoituspalveluyritys - FIN-FSA | 20% · 18% proposed 2027 | IFR €75k-€750k, 171 firms on register |
 Sweden | Värdepappersbolag - FI | 20.6% CIT | 3 kap. 6 § €75k-€750k, fee SEK 975,000 |
 Estonia | Investment firm - FI | 0% retained · 22/78 | IFD tiers, statutory clock |
 Denmark | Fondsmæglerselskab - Finanstilsynet | 22% · 26/22 factor for financial companies | § 18 €75k-€750k, 6 months, 12 absolute |
FinlandLicense typeSijoituspalveluyritys - FIN-FSA
Taxation20% · 18% proposed 2027
RequirementsIFR €75k-€750k, 171 firms on register
SwedenLicense typeVärdepappersbolag - FI
Taxation20.6% CIT
Requirements3 kap. 6 § €75k-€750k, fee SEK 975,000
EstoniaLicense typeInvestment firm - FI
Taxation0% retained · 22/78
RequirementsIFD tiers, statutory clock
DenmarkLicense typeFondsmæglerselskab - Finanstilsynet
Taxation22% · 26/22 factor for financial companies
Requirements§ 18 €75k-€750k, 6 months, 12 absolute
Before you apply
Requirements for the Finnish licence.Requirements for the licence.
The FIN-FSA reviews to the Investment Services Act and Delegated Regulation (EU) 2017/565, and the art. 7(3) clock starts only when the file is complete. The checklist below is what a passing application contains.
01
Finnish company - a sijoituspalveluyritys authorised under the Investment Services Act 747/2012, with the legal-form and head-office rules in chapter 3 of the Act confirmed before incorporation.
02
Initial capital - the IFR art. 9 tiers of €75,000, €150,000 or €750,000 by service set, applied through ch. 6 s. 1 of the Act, paid and evidenced.
03
Fit-and-proper management - directors and managers vetted under the Act and Delegated Regulation (EU) 2017/565, with qualifying holders traced to UBO level.
04
Control functions - compliance, risk management and internal audit as the Act and Delegated Regulation (EU) 2017/565 require, staffed before the decision.
05
Client assets - the client's invested assets kept separate by law, in the Investors' Compensation Fund's own words, wherever the service set holds them.
06
Compensation fund - compulsory membership of the Sijoittajien korvausrahasto, which pays 90% up to €20,000 to non-professional clients, with contributions under its rules.
07
Prudential machinery - IFR arts 11-13 own funds (K-factors, fixed overheads, the permanent minimum) computed from day one.
08
The application file - complete at filing, because the MiFID II art. 7(3) six months run from completeness; the FIN-FSA's processing fee follows its schedule and we quote it before filing.
09
Supervision fees - a basic fee plus a proportional fee under Act 1209/2023, due no earlier than 30 June in one instalment.
10
Business plan and substance - services, client base and financials the FIN-FSA can test, with a genuine Helsinki operation; no residency or staff minimum is published, and substance is confirmed per case.
01
Finnish company, chapter 3 confirmed.
02
Capital per IFR art. 9 tier.
03
Fit and proper management.
04
Compliance, risk, audit staffed.
05
Client assets kept separate.
06
Korvausrahasto membership.
07
IFR own funds live.
08
File complete, so the clock runs.
09
Supervision fee from 30 June.
10
Helsinki substance.
Reflects the Investment Services Act 747/2012, Act 162/2014 and IFR/IFD as of 2026; the applying Finnish sections are confirmed before filing.Act 747/2012 + Act 162/2014 + IFR/IFD, as of 2026.
How it works
From first call to the FIN-FSA register.
01
Act and tier
Investment Services Act or Act 162/2014 decided, services fixed, tier chosen - €75,000, €150,000 or €750,000 - in writing before drafting.Fixed in writing.
02
Company and bench
Finnish entity, capital paid, management and control functions ready for the fit-and-proper test under the Act and Delegated Regulation (EU) 2017/565.Ready for fit and proper.
03
The application
Business plan, organisation, policies and the compensation-fund membership - complete at filing, so the art. 7(3) clock actually starts.Complete, so the clock starts.
04
FIN-FSA review
Six months from completeness under MiFID II art. 7(3), question rounds answered from Helsinki and Tallinn, the processing fee per the FIN-FSA schedule.Six months, art. 7(3).
05
Licence and passport
Register entry beside the 171, Sijoittajien korvausrahasto membership live, EEA notifications - 30 markets open.30 markets open.
Quick facts
RegulatorFIN-FSA
LicenceSijoituspalveluyritys
No client money€75,000 (IFR art. 9)
General tier€150,000
Dealing tier€750,000
Compensation90% up to €20,000
Statutory clock6 months (MiFID II art. 7(3))
Corporate tax20% · 18% proposed
The FIN-FSA publishes no processing statistics - its 2025 report gives fee income and entity counts only - so the honest plan is the six-month directive clock plus the time it takes to make the file complete.
On the ground in Finland
Run from our Helsinki office.
Prifinance - Finland
Helsinki · Finland
Helsinki, Finland
01
Company and capital
Finnish entity and IFR art. 9 capital paid to the tier - €75,000, €150,000 or €750,000 - with the chapter 3 conditions confirmed before incorporation.Paid to the tier.
02
The FIN-FSA file
Business plan, organisation, policies and the fit-and-proper set drafted to the Investment Services Act and Delegated Regulation (EU) 2017/565 - and defended through the question rounds.To the Act and 2017/565.
03
Helsinki and Tallinn
Our head office in Tallinn is two hours from Helsinki by ferry - the nearest real Prifinance office, and where the drafting bench sits.Two hours by ferry.
04
Passporting and launch
Compensation-fund membership, EEA notifications at one month for services and three for a branch, banking live.30 states at launch.
We also have offices in
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of investment firms in Finland.
A 20% rate with an 18% proposal on the table - and two fee lines the quote has to carry.
Yhteisövero 20%
Vero's rate for limited liability companies, cooperatives and other corporate entities is 20% of profits - the number to model today.Vero's corporate rate.
The proposed cut to 18%
The Government proposed on 17 September 2026 to lower the rate from 20% to 18%, applied for the first time in the assessment for tax year 2027.From tax year 2027.
Losses carried 25 years
The same proposal extends the loss carry-forward period from 10 to 25 years - relevant for a firm that spends its first years building assets under management.Up from 10, proposed.
VAT 25.5%
The general rate is 25.5%, with 13.5% and 10% reduced rates from 1 January 2026; the financial-services exemption sits in ss. 41-42 of the VAT Act, and its reach for your service set is confirmed per structure.ss. 41-42 exemption.
Dividend withholding
Tax at source on dividends to non-residents depends on the shareholder's residence and treaty position; the quote carries the figure and any treaty relief per shareholder.Per shareholder.
Supervision and compensation fees
Basic fees plus proportional fees under Act 1209/2023, due no earlier than 30 June in one instalment - investment firms as a class were set €2,642 thousand for 2025 - and the Sijoittajien korvausrahasto contribution.Basic + proportional.
Tax summary
Corporate tax20% · 18% proposed 2027
VAT25.5% · ss. 41-42 exemption
Dividend withholdingConfirmed per shareholder
Supervision feeBasic + proportional (1209/2023)
Loss carry-forward10 years · 25 proposed
*Figures as of 2026 per Finnish law and Vero. Group and founder-level outcomes are modelled per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Finnish company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed firm.
Follow Prifinance
Active across our channels.
Finland · FIN-FSA
Launch your investment firm in Finland with expert support.
Full-service assistance - from the Finnish company and the application file to the FIN-FSA authorisation, compensation-fund membership, passporting and ongoing compliance - run through our Helsinki office.
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Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Finnish investment licence, answered.
Which licence does an investment firm need in Finland?+
The sijoituspalveluyrityksen toimilupa from the FIN-FSA under the Investment Services Act 747/2012, covering the MiFID II Annex I services from reception and transmission to MTF and OTF operation, with custody as an ancillary service. Credit institutions, rahastoyhtiöt and AIFMs provide investment services under their own acts.
What capital does the FIN-FSA require?+
The IFR art. 9 tiers: €75,000 for a firm that never holds client money, €150,000 as the general tier, €750,000 for dealing on own account or firm-commitment underwriting. Ch. 6 s. 1 of the Act applies them; the regulation's figures are the ones we quote.
How long does the FIN-FSA take?+
Six months from a complete application under MiFID II art. 7(3), the clock every EU regulator works to. The Finnish section carrying it sits in chapter 3 of the Act, and the FIN-FSA publishes no processing statistics, so plan on the statute plus the time to make the file complete.
What does the licence cost?+
The FIN-FSA charges processing fees for authorisations under its schedule; the investment-firm amount is confirmed from the schedule and quoted before filing. Supervision fees under Act 1209/2023 follow - a basic fee plus a proportional one, due from 30 June.
How are clients protected?+
Through the Sijoittajien korvausrahasto: 90% of a non-professional client's receivables from one firm, up to €20,000, with the maximum reached at €22,222 and a fund minimum capital of €12 million. Membership is compulsory. Fund units, unit-linked policies and losses from price movements are not covered.
Is there a lighter adviser licence?+
No - the FIN-FSA publishes no separate national investment-adviser regime; advice is a licensed service under the Act. The lighter routes are the tied agent, registered by the FIN-FSA, and AIFM registration below the AIFMD thresholds under Act 162/2014.
Does the licence passport across the EEA?+
Yes - the MiFID II passport into 30 EEA states, one month for services under art. 34(3) and three months for a branch under art. 35(3), with the FIN-FSA forwarding the notifications and listing them in its register.
How are Finnish investment firms taxed?+
20% yhteisövero on profits today, with a Government proposal of 17 September 2026 to cut it to 18% from tax year 2027 and extend loss carry-forward from 10 to 25 years. VAT is 25.5%, with the financial-services exemption in ss. 41-42 of the VAT Act; dividend withholding is confirmed per shareholder.
Finland or Sweden for a new firm?+
Sweden prints its price: a 975,000 kronor application fee, six months once it is paid, 20.6% tax, SEK 250,000 of investor cover and a 10.6 million market. Finland has 171 firms on the register, 20% tax heading to 18% and €20,000 cover. Bigger market and a printed fee: Stockholm. Lower tax and the ferry to our Tallinn bench: Helsinki.
Why Prifinance for Finland?+
Our head office is in Tallinn, two hours from Helsinki by ferry - the nearest real Prifinance office to the FIN-FSA. We build the Finnish company, the capital and the application file there and in Helsinki, source the control functions, and run compensation-fund membership and EEA notifications as part of launch.
Which licence?+
Sijoituspalveluyritys, Act 747/2012.
Capital?+
€75k/€150k/€750k, IFR art. 9.
How long?+
Six months, no stats.
Fee?+
Per the FIN-FSA schedule.
Client protection?+
90% up to €20,000.
Lighter licence?+
Tied agent or AIFM registration.
Passport?+
30 EEA states.
Taxes?+
20%, 18% proposed.
Or Sweden?+
Printed fee vs lower tax.
Why you?+
Tallinn HQ, two hours away.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
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Google
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Google
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Google
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Google
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Finnish Financial Supervisory Authority (FIN-FSA) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.